Where do you post trade information when you trade goods using cryptocurrency?

Potato Chips

hero member

Activity: 2786

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yesssir! 🫡

Quote from: Crydeal on March 19, 2023, 06:52:39 AM

Indeed, it is.
However, if you are unwilling or unable to use a bank, or wish to protect your privacy, this might be a good option to consider.
And I think it's cool.

In case you missed it, we have reputable members who offer escrow service and of course, they deal with cryptocurrencies. I think one could even convince some of them to use privacy coins like XMR or messaging apps with E2E encryption.

Few Trusted Escrow Providers
₿ LIST ₿ Bitcointalk's ESCROW providers: Ranking & Blacklist ☠ Avoid Scam ☠ (some information could be outdated)

Husires

legendary

Activity: 1596

Merit: 1288

Commodity trading is still a market far from the use of bitcoin due to shipping costs, which makes buying from local stores better, or the services available, which are a more flexible option than using bitcoin, given that less than 1% of the stores you encounter accept payment in bitcoin.

My preferred method is to purchase gift cards with bitcoins and then use them to purchase goods and services.

Collectibles board is the best place for physical Bitcoin/gold/sliver coins https://bitcointalk.org/index.php?board=217.0

Crydeal

newbie

Activity: 25

Merit: 1

Quote from: Despairo on March 19, 2023, 12:10:46 AM

On-chain application will force you to use the service and we need to trust the service, if the service is new and has no reputation, what's the reason I need to risk my money?

You're right, for trusted people and platforms, it can be a waste of time.
But not everyone has a good reputation or verification, and some people don't want to use banks or credit cards.
Crypto with smart contract or script offers many transaction scenarios and methods, and I think it can provide basic trust for almost all deal situations.

Crydeal

newbie

Activity: 25

Merit: 1

Quote from: BitcoinGirl.Club on March 18, 2023, 11:19:42 PM

Paypal? Go fuck them LOL

Ya nailed it, mate!

Crydeal

newbie

Activity: 25

Merit: 1

Quote from: Potato Chips on March 19, 2023, 05:52:55 AM

That's a deal breaker for me then. I don't see any reason why should I opt for it when there's a better option where I have a fallback of initiating a dispute, and if documented well, I won't lose anything.

Indeed, it is.
However, if you are unwilling or unable to use a bank, or wish to protect your privacy, this might be a good option to consider.
And I think it's cool.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Quote from: Crydeal on March 19, 2023, 04:18:13 AM

Unless both parties unlock it together, if someone doesn't deliver the goods, sends fake goods, or falsely claims not to have received the goods, the victim can choose not to unlock, and no one benefits.

That's a deal breaker for me then. I don't see any reason why should I opt for it when there's a better option where I have a fallback of initiating a dispute, and if documented well, I won't lose anything.

Crydeal

newbie

Activity: 25

Merit: 1

Quote from: Potato Chips on March 19, 2023, 01:52:51 AM

Sounds good, I think some p2p exchanges I went with uses smart contract as well.

But lose-lose situation? does this mean both parties will be in a losing situation? if so, why? will there be no staff from the platform to oversee disputes?

A lose-lose situation is a foolish scenario, but we can't rule out the possibility of it happening.

After both users send tokens to the smart contract, these tokens will be locked in the contract.

To paint a picture, it's like putting money into a safe with two locks, with each person holding a key.

Unless both parties unlock it together, if someone doesn't deliver the goods, sends fake goods, or falsely claims not to have received the goods, the victim can choose not to unlock, and no one benefits.

There won't be an administrator for the contract, and only the participants can unlock each lock. If someone changes their mind about the price, users can use the smart contract again for a similar transaction to balance the price difference.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Quote from: Crydeal on March 19, 2023, 01:06:16 AM

If two traders both pledge tokens to a smart contract, and the tokens can only be unlocked and returned if both parties agree, then if one of them acts maliciously, it would result in a lose-lose situation, if the transaction is completed smoothly, they'll naturally agree to unlock their pledges.
This way, there's no need for any additional escrow, just communication between the two parties.
Implementing this logic with a smart contract is simple, and the whole process involves only the two traders and the smart contract.

Sounds good, I think some p2p exchanges I went with uses smart contract as well.

But lose-lose situation? does this mean both parties will be in a losing situation? if so, why? will there be no staff from the platform to oversee disputes?

Crydeal

newbie

Activity: 25

Merit: 1

Quote from: Potato Chips on March 19, 2023, 12:15:55 AM

But how would this work? or do you mean the application would be the acting middleman/escrow in the situation?

If two traders both pledge tokens to a smart contract, and the tokens can only be unlocked and returned if both parties agree, then if one of them acts maliciously, it would result in a lose-lose situation, if the transaction is completed smoothly, they'll naturally agree to unlock their pledges.
This way, there's no need for any additional escrow, just communication between the two parties.
Implementing this logic with a smart contract is simple, and the whole process involves only the two traders and the smart contract.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Quote from: Crydeal on March 18, 2023, 10:57:56 PM

bitcointalk? reddit? telegram? or other?

Would you use an escrow service? Or would you prefer to conduct transactions face-to-face?

Which escrow service you use? paypal or other?

I typically sell my unneeded goods for fiat since it's a lot easier to find a buyer that way. But if there comes a time I have to, escrow is definitely a must for online transactions and for that, I would consider the escrow agents in bitcointalk first.

Quote from: Crydeal

If there were a completely on-chain application that could help you solve the trust issue without escrow,
would you be willing to give it a try?

But how would this work? or do you mean the application would be the acting middleman/escrow in the situation?

Despairo

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Bitcointalk or reddit are the good option, it just depend on the person if he's more comfortable to trade using Bitcoin, he can choose Bitcointalk, reddit is more general and it mostly using fiat. Using telegram is really worst decision, someone can delete the whole conversations.

In this forum there are many high trusted users offer escrow service Recommended bitcointalk escrow services, in reddit might be similar.

On-chain application will force you to use the service and we need to trust the service, if the service is new and has no reputation, what's the reason I need to risk my money?

BitcoinGirl.Club

legendary

Activity: 2800

Merit: 2736

Farewell LEO: o_e_l_e_o

Quote from: Crydeal on March 18, 2023, 10:57:56 PM

bitcointalk? reddit? telegram? or other?

Would you use an escrow service? Or would you prefer to conduct transactions face-to-face?

Which escrow service you use? paypal or other?

If there were a completely on-chain application that could help you solve the trust issue without escrow,
would you be willing to give it a try?

I never needed to do such trade but if I have to then I will go with the forum.

Considering my presense on the forum for years I don't think anyone will ask for that. In fact they will need to send me first then to get payment. But for newbie or anyone who does not have long history they an use forum escrow. There are many users who provide escrow service.

Paypal? Go fuck them LOL

Crydeal

newbie

Activity: 25

Merit: 1

bitcointalk? reddit? telegram? or other?

Would you use an escrow service? Or would you prefer to conduct transactions face-to-face?

Which escrow service you use? paypal or other?

If there were a completely on-chain application that could help you solve the trust issue without escrow,
would you be willing to give it a try?

Topic: Where do you post trade information when you trade goods using cryptocurrency? (Read 111 times)